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04.02.2016 11:30:01
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DGAP-News: Global PVQ
DGAP-News: Global PVQ SE: Further Developments in the Insolvency Proceedings after the Creditors Meeting (Final Meeting) of 27 August 2015
Halle/Saale, 4 February 2016
The insolvency administrator reports on the further developments concerning the insolvency proceedings of Global PVQ SE (formerly: Q-Cells SE) after the creditors meeting (final meeting) of 27 August 2015:
The sum set on 27 August 2015 for payments to preferential creditors has to be reduced by EUR 9.2 million due to new developments. This is based on the letter issued by the Federal Ministry of Finance dated 18 November 2015. This letter clarifies the temporal application of the principles as set up by the Federal Court of Finance in its judgement of 24 September 2014.
The regional court of Dessau-Roßlau (Landgericht Dessau-Roßlau) has dismissed an appeal by a creditor within the legal disputes regarding an insolvency claim of approx. EUR 161 million. However, the free liquidity, which has been reserved for this alleged insolvency claim, cannot (yet) be distributed to the insolvency creditors because the legal disputes have not been entirely concluded.
Again, the resulting figures are preliminary and they only indicate a further preliminary result in the insolvency proceedings. The final result of the proceedings and the expected final insolvency dividend still depend on various factors, which are not yet certain.
Contact: Christoph Möller möller pr Phone: 0221 80 10 87-87 E-mail: cm@moeller-pr.de
End of Corporate News
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04.02.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English Company: Global PVQ SE Sonnenallee 17-21 06766 Bitterfeld-Wolfen OT Thalheim Germany Phone: +49 (0)3494-669970102 Fax: +49 (0)3494 - 669970001 E-mail: s.krystossek@pvqse.de Internet: www.pvqse.de ISIN: DE0005558662, Wandelanleihe 2014: DE000A1AGZ06, Wandelanleihe 2015: DE000A1E8HF6 WKN: 555866 Listed: Regulated Unofficial Market in Hamburg, Hanover, Stuttgart; Open Market in Frankfurt End of News DGAP News Service ---------------------------------------------------------------------------
434661 04.02.2016
DGAP-News: Global PVQ SE / Key word(s): Miscellaneous
Global PVQ SE: Further Developments in the Insolvency Proceedings after the
Creditors Meeting (Final Meeting) of 27 August 2015
04.02.2016 / 11:30
The issuer is solely responsible for the content of this announcement.
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Global PVQ SE (formerly Q-Cells SE): Further Developments in the Insolvency
Proceedings after the Creditors Meeting (Final Meeting) of 27 August 2015
Halle/Saale, 4 February 2016
The insolvency administrator reports on the further developments concerning the insolvency proceedings of Global PVQ SE (formerly: Q-Cells SE) after the creditors meeting (final meeting) of 27 August 2015:
The sum set on 27 August 2015 for payments to preferential creditors has to be reduced by EUR 9.2 million due to new developments. This is based on the letter issued by the Federal Ministry of Finance dated 18 November 2015. This letter clarifies the temporal application of the principles as set up by the Federal Court of Finance in its judgement of 24 September 2014.
The regional court of Dessau-Roßlau (Landgericht Dessau-Roßlau) has dismissed an appeal by a creditor within the legal disputes regarding an insolvency claim of approx. EUR 161 million. However, the free liquidity, which has been reserved for this alleged insolvency claim, cannot (yet) be distributed to the insolvency creditors because the legal disputes have not been entirely concluded.
Again, the resulting figures are preliminary and they only indicate a further preliminary result in the insolvency proceedings. The final result of the proceedings and the expected final insolvency dividend still depend on various factors, which are not yet certain.
Contact: Christoph Möller möller pr Phone: 0221 80 10 87-87 E-mail: cm@moeller-pr.de
End of Corporate News
---------------------------------------------------------------------------
04.02.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English Company: Global PVQ SE Sonnenallee 17-21 06766 Bitterfeld-Wolfen OT Thalheim Germany Phone: +49 (0)3494-669970102 Fax: +49 (0)3494 - 669970001 E-mail: s.krystossek@pvqse.de Internet: www.pvqse.de ISIN: DE0005558662, Wandelanleihe 2014: DE000A1AGZ06, Wandelanleihe 2015: DE000A1E8HF6 WKN: 555866 Listed: Regulated Unofficial Market in Hamburg, Hanover, Stuttgart; Open Market in Frankfurt End of News DGAP News Service ---------------------------------------------------------------------------
434661 04.02.2016
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